Talkspace (NASDAQ:TALK) Coverage Initiated at Mizuho

Equities researchers at Mizuho initiated coverage on shares of Talkspace (NASDAQ:TALK) in a report released on Wednesday, Marketbeat reports. The firm set an “outperform” rating and a $5.00 price target on the stock. Mizuho’s price target would indicate a potential upside of 46.20% from the stock’s previous close.

TALK has been the topic of a number of other research reports. Barclays lifted their target price on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Northland Securities started coverage on shares of Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price objective on the stock. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.33.

Talkspace Trading Down 1.4 %

Talkspace stock opened at $3.42 on Wednesday. The firm has a market capitalization of $577.71 million, a P/E ratio of -342.00 and a beta of 1.12. The business has a 50-day moving average of $2.89 and a 200-day moving average of $2.40. Talkspace has a 1 year low of $1.60 and a 1 year high of $3.92.

Talkspace (NASDAQ:TALK) last posted its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The firm had revenue of $47.40 million for the quarter, compared to analyst estimates of $47.50 million. During the same period in the previous year, the company posted ($0.03) earnings per share. Research analysts anticipate that Talkspace will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Talkspace

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were purchased at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the completion of the acquisition, the chief financial officer now directly owns 397,657 shares in the company, valued at approximately $839,056.27. This trade represents a 6.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in Talkspace by 2,480.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after purchasing an additional 340,030 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Talkspace in the second quarter valued at about $921,000. Divisadero Street Capital Management LP grew its stake in shares of Talkspace by 13.2% in the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock valued at $7,157,000 after acquiring an additional 361,717 shares in the last quarter. Royce & Associates LP bought a new position in Talkspace during the third quarter worth about $1,045,000. Finally, Vanguard Group Inc. boosted its holdings in Talkspace by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after purchasing an additional 84,933 shares during the period. Institutional investors own 57.37% of the company’s stock.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.